Reference is made to the pervious stock exchange notice dated30 November 2020 regarding the initiation of discussions regarding a merger betweenSpareBank 1 BV andSparebanken Telemark , and the stock exchange notice dated22 February 2021 regarding the conclusion of a merger agreement between the board of directors in the two banks. The Supervisory Boards inSpareBank 1 BV andSparebanken Telemark have, in meetings dated25 March 2021 , approved the merger of the two banks, wherebySpareBank 1 BV shall be the acquiring bank and shall thus take over the assets, rights and liabilities ofSparebanken Telemark on implementation of the merger. Upon completion of the merger the merged bank shall be renamedSpareBank 1 Sørøst-Norge. As consideration for the assets, rights and liabilities thatSpareBank 1 BV acquire,SpareBank 1 BV shall issue equity capital certificates to the equity capital certificate holders inSparebanken Telemark .SpareBank 1 BV andSparebanken Telemark shall also, in connection with the merger, convertNOK 800 million in primary capital into equity certificate capital and issue equity capital certificates to SpareBank 1Stiftelsen BV and Sparebankstiftelsen Telemark - Grenland, respectively. Reference is also made to the minutes from the meeting of the banks' Supervisory Boards. The banks will now apply for the necessary public approvals. The merger is contemplated to be finalised on1 June 2021 . Contact persons:SpareBank 1 BV :Rune Fjeldstad , CEO, tel. + 47 900 79 017Finn Haugan , Chair, tlf. + 47 900 41 002Sparebanken Telemark : Per Halvorsen, CEO, tel. +47 934 07 441Anne Berg Behring , Chair, tel. +47 930 30 889 This information is disclosed pursuant to the requirements of the Securities Trading Act § 5-12
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